In Kazakhstan, sunflower oil prices may rise if the state does not intervene.
Earlier, on October 5, the interdepartmental commission (IAC) decided to consider the introduction of export duties on sunflower seeds in the amount of 20% with further calculation of the maximum minimum duty in foreign currency. Recall that on September 30, the export quotas for the export of oilseeds expired.
As the National Association of Oilseed Processors, if the measure is not implemented in the near future, it will provoke an increase in prices for sunflower oil. The association recalled that last season, thanks to the introduced quantitative restriction on the export of raw materials, it was possible to contain the cost of products.
“Last season, quotas showed their effectiveness, it is enough to recall how after February 24 oil prices soared by about 59% on the world market, but we did not have such a jump. We managed to contain the rise in prices within the market and increase the production of sunflower oil by 46% due to the adopted restrictions,” said Yadykar Ibragimov, chairman of the board of the association.
This year the gross harvest of sunflower seeds in the country may reach about 1 million tons.
“This is not so much to squander it, taking it to other countries. Such a simple truth has to be constantly proved to the Ministry of Agriculture, but, as we see, judging by the proposals of this relevant ministry, this is unsuccessful, ” he complained.
At the same time, it is noted that it is critically important for Kazakhstan to ensure the development of its own processing industry. Ibragimov believes that domestic oil plants are able to process both domestic and imported sunflowers from Russia. According to him, the total capacity of processing enterprises is about 3 million tons of seeds.
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